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Brent Crude Daily Forecast

Brent Crude held support at 109.35/30 & is just sitting above 110.10/20 which should allow a test of 110.60/70 possibly as far as 111.00 highs for a selling opportunity within this band. Stops on shorts above 111.20 for 111.50/55. Failure to hold 110.00 however is more negative & could see us back towards support at 109.35/25. A bounce from here is likely but be ready to go with a break lower for support at 108.65/60 & a low for the day expected. However just be aware that we have better Fibonacci & 200 day moving average support at 108.10/00. Exit shorts & try longs with stops below 107.70.

Dafni Serdari
Market Analyst
Intertrader.com, Spread betting & CFDs
Spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit.
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The comment in this blog is the personal opinion of the contributors and not Intertrader.com. The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. Intertrader.com is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

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